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zer takes on politics. >>science and republicans do not
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mix. >>now it's your turn at the only online forum with a direct line to eliot spitzer. >>join the debate now. >> eliot: this week marks the annual clinton global initiative conference featuring speeches and panels from some of the most prominent panels in the world. one of those panels was titled women in the economy. joining us now is sheri blair who has had a distinguished career in england, and is the developer of your foundation. thank you for being here. >> it's delightful to be here. >> eliot: give us a scope of
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your foundation. >> we try to help people particularly in the middle east africa, and asia expand and grow their businesses so they can help themselves their families, and the wider community. i strongly believe a woman who has economic power, and has her own money also has a voice in the community. >> eliot: so this is part of a larger social transformation that you believe will follow if the role of women is fundamentally altered to one of being both equality and economic and financial success? >> actually i don't think this is just about women in the developing world. there is nowhere in the world where women have complete equality with men. and it's a nonsense for any society to neglect 50% of his
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population. >> eliot: i didn't mean to suggest the issues are not here as well, but since the focus of your foundation is in areas where perhaps there has been at a social level, a greatest vest age of sub serveients. >> that's true. in the middle east 70% of the students are women. but less than 20% are going into the economy. so women are being educated but they still are not able to put those skills to use for the benefit of their country. >> eliot: because of social prohibitions. >> certainly. we look at it in three ways. we look at our women entrepreneurs, and say what do they need.
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we say they need capacity building, so quite a lot of the women maybe have not ever had business training, but we also think what they need is confidence. and that's a trend in general of particularly women in areas where they have been told so much what women can't do that we need to build up their confidence to tell them that women can do what they want to do. and the final thing we want them to do is give them access to capital. 40% of the world's working population are our women. obviously 50% of the population is women, yet when you look to access to capital, a key driver of the economy, only 10% of the capital available in the world is going to women. >> eliot: the micro finance evolution has had a direct impact on women in particular. and it has a remarkable
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transformtive effect to access to capital. is that part of the revolution you are waning to participate in. >> we want to focus on the middle. there has been a new movement that has come out of the idea of giving small amounts of women often in organized groups that they share the money among them and they make a huge difference to the lives of their families but it tens to be for very small amounts of money. and if you get a woman who is good at business and starts to grow her business, unless she can make the money from the whole of the group, she is not going to be able to do that. >> eliot: i think the payback rate was better than some of the major banks here in new york.
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i think that has been a remarkable success. your focus has been perhaps elsewhere in the world, but there is a raging debate here in the united states and your country as well about the glass ceiling and whether women can have it all. the article saying essentially you can't all at once. maybe over time. where do you come out on this? >> i have a great respect for emery slaughter whom i know. i always say you have got to look at this in the context of a career span which is 40 or 50 years, and i think there are times when you can't have it all in the sense that you can't go full out on your career and full out on bringing up young children. >> eliot: right. >> but that span is such a small part of a lifetime's career. but i do say that women can have it all spaced out over that career, and what we need to do to change the whole dynamic is
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try to stop making it so women have to make once and for all choices, particularly around the time when they want to have children and bring up their families. too often now we allow women to fall out of the job market and we don't give them ways back in. >> eliot: right. >> and we don't acknowledge the skills that it takes to be a mother and bring up children and we don't value them enough, and we don't give women the choices so that they can say, well now has come the time when i want to go and do something for myself. >> eliot: and i have to say -- i have often seen -- there is a huge reservoir of talented women lawyers -- and i'm most familiar with here in new york where women wanted to take some time off and then wanted to get back in, but were off the career track. there has got to be a way to
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bring them back into the work force. >> it is a terrible waste of talent. girls are doing better than boys at school, and better than boys in college, and yet within five years into the work force, boys are paid 15% more than girls. and then there is the biological clock. and some women come back and choose to sort of hold themselves back, because they are worried that if they -- unless they do that, they are going to come to grief trying to balance work and family. >> eliot: one of the remedies have been quotas, and one of the debates going on right now in europe in particular is quotas for board representation. is that one of the steps you
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think we should pursue or is that too easy and doesn't really cut to the real problem? >> first of all i think that board -- we need to do more to have more women on the boards because all of the research shows if you have at least 30% of women on the board you have a diversity of life experiences and opinions on the board, they do better on the bottom line. on the other hand it is not just about the boards. the problem is we don't have enough women at the executive level and the pipeline coming through. >> eliot: i guess the hope is if they are on the boards then it would sink on down through the entire structure of the company. i just have to say you have had four kids and managed to navigate through that and have an amazing career so part of it is having role models. >> exactly.
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and that's why boards are important. sometimes you have to kick start a process. >> eliot: right. >> and that's what this whole debate is about. >> eliot: right. i think you as a role model is one way to do it. thank you so much for your time tonight. >> thank you for having me. >> eliot: fox news tries to make an issue where there isn't one.
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>> eliot: still ahead as the recovery from the 2008 financial crisis drags on could it have been handled in a better way. but first, green bay hires a replacement weather man. when it doesn't fit anybody
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place else we put it in the viewfinder. >> now these replacement refs are getting flak just because their innocent mistakes are determining the outcome of games. >> this is what the regular refs have been waiting for. if i was them whatever i was asking for, i would double it. >> this is your replacement weather guy forecast. it looks like it will be bad out there today, people. 200 degrees below is what we're looking at. >> did you see the interview with the quarterback? it's not the interview it is what is going on behind him. >> we practice that all the time -- >> watch this. >> the refs are partying with the seahawks. >> we talked about how the president's appearance on "the view" sparked a little
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criticism. >> should the president be meeting with egyptian president morsi or with joy behar? >> choosing whoopi over world piece? >> world leaders like to be treat as equals. and now all of them know that president obama chose to do "the view" instead of meeting with them. >> is there any discussion amongst world leaders about the president not being available for face-to-face meetings. >> not that i heard. i think everybody is preparing for their speeches. >> so we are in fact perhaps in some respects, blowing this out of proportion? >> most likely. >> he decided to sit down with the ladies of "the view." >> whatever his missteps are as president, barack obama, is
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surging the course, because the closer we get to the election, the dumber mitt romney gets. >> you can't find any oxygen inside the aircraft because the windows don't open. i don't know why they don't do that. but it's a real problem. so it's very dangerous. the windows don't open i don't know why they don't do that? >> eliot: i have my own take on the nfl refs. it's about money and believe it or not, congress. small in size. big on safety.
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that is wrong in the economy, extraordinarily wealthy owners are squeezing the working guys the locked out refs who not only get weekly abuse from fans but paychecks that barely register in comparison to the owners and players. those at the top do better and better, while those in the middle see what had been seen as basic aspects of a paycheck a pension and health care disappear at the bargaining table. this could be viewed as a private dispute that should be resolved and which some sound judgment and reason could get across -- pardon the phrase -- the goal line, but there is another dimension to this. a significant piece of the wealth that the nfl owners garner is the result of the enormous tv profits they get.
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and the anti-trust laws have been made to sports leagues, especially the nfl. the nfl has used its political muscle, the wealth of its owners, to acquire an edge on the economic playing field via congress. the owners have made more money, eliminated competition, and hens kept us hostage to inferior games official rating for refs filling in for the real guys in pain stripes. so maybe say to the owners go ahead, go ahead to your lockout, but say good-bye to the laws that you bought to give yourself a bit of an edge, and now play by the same rules as the rest of us do in the real world. simply put nfl owners should have to compete on a virtual
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playing field. they have shown how the game can be rigged not just on the field, but also in the halls of congress. it's time to get real refs on the field, and real competition on the economy. let's flag the owners for illegal formation. that's my view.
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>> eliot: after four years we have yet to fully recover from the financial collapse of 2008. the billion dollars question remains should we have done better? that is one of the many questions that sheila bare discusses in her new pull-no-punches book "bull by the horns," writing and i quote . . .
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she joins me now. sheila thank you for coming in and writing this tell-all book that is fascinating. because you are the first person to talk about this from inside the room. and that's what makes it so different. >> it does. and i think given the fact there was so much taxpayer exposure is here, that the public deserved to know what was going on. >> eliot: why do you think it happened -- it being this cataclysm that brought us all down? >> well, it's a typically cycle, we were having a housing asset build, and people said well this is different this time. housing will be good forever. we'll make loose loans and they can always refinance. and then they were taking more
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leverage. so they were using other people's money to make these bets. there is the [ inaudible ] capital accord that was specifically allowed large financial institutions to take on more capital. and the fdic fought that tooth and nail -- >> eliot: you were throughout this cycle, it was leverage securitization, playing with other people's money, bawl of the things -- you were one of the few voices even before it happened saying be careful this is dangerous. it is going to end ugly. and how were you dealt with then? >> not very well. >> eliot: you are being kind. >> this goes back to 2001 when i was the treasury we suggested to the fed -- we didn't even have mortgage lending standards,
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and they didn't want to use that authority. and then when i came back in 2006 to head the fdic i couldn't believe what i was seeing. sub prime is contained. remember that. we have a problem here but it's a small sector of the overall mortgage market, and banks don't have that much exposure and nobody was looking at all of the trains of the derivatives. >> eliot: because these guys are smart. >> yes. >> eliot: listen, then you have the bailout. >> yeah. >> eliot: and you are saying what do we do? at least structure the bailouts in a way that creates some piece of the bargain for the public. that did not happen? >> yeah. >> eliot: why not? >> the original idea of tarp was to get the other bad assets off of the books.
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and -- but that's hard to do. that requires operational capacity and the ability to execute, and i think at the end of the day it was easier to write big checks to a lot of institutions. and a lot of this was being driven by citibank. >> eliot: you go through detail about how you think tim geithner was there protecting citibank and the rest of it was a camouflage. >> certainly the capitol injections. there was a liquidity problem. things were spinning out of control, and banks were having a hard time rolling new debt. there was a problem there. it was more with the investment banks than the commercial banks -- >> eliot: and they depend on day-to-day borrowing -- >> exactly. whereas commercial banks have
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deposits that are sticky because they are government guaranteed, so they are stable. citi relied heavily on wholesale markets -- >> eliot: let me jump to the issues that you focus on. they didn't do anything for the mortgage relief that was critical for the economy. >> no they didn't. we had some soft language theying they should do their best, which they agreed to but didn't do that. >> at the moment tim geithner said i have what you need -- they didn't reform anything. why not? >> because they didn't really need capital. citi needed capital. the rest of them had liquidity needs, but they were afraid if they put too many conditions or restrictions the healthy banks wouldn't take it. so if you -- at chase or
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wells fargo, they still have pretty strong balance sheets and they are saying we are going to make you take this capital, and by the way you have to do x, and z. >> eliot: and then we didn't solve the financial crisis and that has continued to be a huge perhaps more fundamental drag on the economy. >> it has been. and they had more tarp money, so we thought after we did the capital infusions that there would still be a significant amount of tarp money to do troubled asset relief for the mortgage -- that's what congress thought they were voting for. and we couldn't get the bush administration to move. so when the obama administration came in, we thought we can do all of this. and then they did a very timid
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endorsement. >> eliot: we have to take a quick break, but when we come back it will be the good the bad and the ugly and who really failed. 1cccm00426
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Viewpoint With Eliot Spitzer
Current September 26, 2012 5:00pm-6:00pm PDT

News/Business. (2012) New. (CC) (Stereo)

TOPIC FREQUENCY Eliot 5, Citibank 2, Citi 2, New York 2, Sheila 2, Tim Geithner 2, Middle East Africa 1, England 1, Obama Administration 1, Hd 1, Asia 1, Nfl 1, Europe 1, Wells Fargo 1, Morsi 1, Eliot Spitzer 1, Sheri Blair 1, Emery 1, Behar 1, Barack Obama 1
Network Current
Duration 01:00:00
Rating PG
Scanned in San Francisco, CA, USA
Source Comcast Cable
Tuner Virtual Ch. 107 (CURNT)
Video Codec mpeg2video
Audio Cocec ac3
Pixel width 528
Pixel height 480
Sponsor Internet Archive
Audio/Visual sound, color

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on 9/27/2012